06/29/21
Online education company 2U has announced it will acquire edX, the online learning platform founded by Harvard and MIT, for $800 million. Together, the organizations will boast a reach of more than 50 million learners around the globe, 230-plus partners and more than 3,500 digital programs.
A key part of the deal is 2U's commitment to advancing edX's mission to expand access and affordability to high-quality education for all learners, according to a news announcement. 2U plans to operate edX as a public benefit entity, a designation for for-profit organizations that focus on achieving particular public-benefit goals and balancing those priorities with serving shareholder interests. This "will allow edX's long-standing commitment to the public good to be embedded in its new charter," an MIT frequently asked questions document explained. "In this new incarnation, edX will operate under a set of guidelines that will preserve its mission."